Regulatory Convergence: Processes and Dynamics

Abstract

As we discussed in the previous chapter, there is an emerging consensus in the study of the world political economy that firms should be considered as transnational political actors. This is a response to empirical evidence that continues to undermine an exclusive statecentric approach to international relations. Consequently, considerable conceptual and theoretical work has been undertaken to understand the mechanisms by which the firm, as a commercial, non-governmental entity, can impact on political processes. This has been underpinned by considerable empirical research, predominantly on a case-study basis, which highlights and validates these theoretical claims. In this chapter, we aim to build on the theoretical and conceptual debate on the firm as a transnational political actor.¹ Relatively little research has been done on the indirect influence of firms through their role in standard setting and regulation as part of their strategy for competitive advantage.